NACKA STRAND, Sweden--(BUSINESS WIRE)--Regulatory News:
Hexagon AB (STO:HEXAB), a leading global provider of information technologies that drive productivity and quality across geospatial and industrial enterprise applications, today announced the acquisition of Multivista, a leading provider of visual, cloud-based construction documentation solutions. Visual construction documentation enables visibility of construction progress throughout the life cycle of a built asset – from start to finish.
Multivista has offered documentation technology and services to support construction projects of all types and sizes since 2003. Its construction photography and video services provide progressive, digital records of ground-up development. What’s captured is managed and shared via its cloud-based documentation platform – where images are indexed and linked to architectural plans and live conditions or events, such as walkthroughs and inspections, are live streamed as well as viewed on demand. During construction this enables remote monitoring and verification of site progress and quality of work as well as immediate comparison of actual versus modeled conditions from anywhere at any time. Post construction it eliminates guesswork, such as locating the electrical and plumbing systems hidden behind walls, floors, and ceilings.
“Ultimately, Multivista brings visibility to construction projects. The resulting transparency and accountability are both key to enabling prompt course corrections and minimizing corrective work, which can ultimately result in a lot of time and money saved in an industry whose productivity has declined over the last 50 years,” said Hexagon President and CEO Ola Rollén. “This acquisition not only strengthens Hexagon’s breadth of expertise in the changing construction landscape but also offers opportunities to augment Multivista’s proven documentation portfolio with 3D reality capture solutions. Additionally, as more and more construction companies realise the value of centralised, real-time ‘as-built’ information sharing, the practicality of integrating mobile, positioning, and autonomous technologies into the construction workflow will also become a reality – which are all an integral part of Hexagon’s construction management solution strategy.”
Multivista operates a franchise business structure currently spanning North America and Europe, with the majority of its operations in the U.S. and Canada. Headquartered in Vancouver, British Columbia, Canada and Phoenix, Arizona, USA, Multivista’s comprehensive visual construction documentation solutions help improve jobsite productivity and collaboration, enforce accountability, verify quality, reduce risk, and control costs.
Multivista will be fully consolidated as of today. The acquisition has no significant impact on Hexagon's earnings.
Hexagon is a leading global provider of information technologies that drive productivity and quality across geospatial and industrial enterprise applications. Hexagon's solutions integrate sensors, software, domain knowledge and customer workflows into intelligent information ecosystems that deliver actionable information. They are used in a broad range of vital industries. Hexagon (Nasdaq Stockholm: HEXA B) has more than 16,000 employees in 46 countries and net sales of approximately 3.0bn EUR. Learn more at www.hexagon.com and follow us @HexagonAB.
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